Dark Forest Capital Management LP Buys 98,245 Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Dark Forest Capital Management LP lifted its holdings in Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 473.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 118,993 shares of the company's stock after acquiring an additional 98,245 shares during the period. Clearwater Analytics makes up approximately 0.5% of Dark Forest Capital Management LP's portfolio, making the stock its 20th biggest position. Dark Forest Capital Management LP's holdings in Clearwater Analytics were worth $3,275,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. GAMMA Investing LLC increased its position in shares of Clearwater Analytics by 57.4% in the fourth quarter. GAMMA Investing LLC now owns 1,284 shares of the company's stock valued at $35,000 after acquiring an additional 468 shares during the period. Arcadia Investment Management Corp MI purchased a new stake in Clearwater Analytics in the fourth quarter worth $57,000. R Squared Ltd purchased a new stake in shares of Clearwater Analytics in the 4th quarter worth about $80,000. Aster Capital Management DIFC Ltd bought a new position in shares of Clearwater Analytics in the 4th quarter worth about $82,000. Finally, Nisa Investment Advisors LLC boosted its stake in Clearwater Analytics by 174.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 3,128 shares of the company's stock worth $86,000 after acquiring an additional 1,987 shares in the last quarter. 50.10% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CRO Scott Stanley Erickson sold 76,256 shares of the company's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $30.07, for a total value of $2,293,017.92. Following the completion of the transaction, the executive now owns 78,363 shares of the company's stock, valued at $2,356,375.41. This represents a 49.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Sandeep Sahai sold 50,000 shares of the company's stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $23.09, for a total value of $1,154,500.00. Following the completion of the transaction, the chief executive officer now owns 876,754 shares of the company's stock, valued at $20,244,249.86. The trade was a 5.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 644,510 shares of company stock valued at $18,478,363. 4.60% of the stock is owned by company insiders.

Clearwater Analytics Stock Performance

NYSE:CWAN traded up $0.05 during trading hours on Friday, reaching $22.80. The company had a trading volume of 2,571,131 shares, compared to its average volume of 2,158,700. The firm's 50 day moving average price is $26.20 and its 200-day moving average price is $27.64. The firm has a market cap of $5.72 billion, a price-to-earnings ratio of 13.73, a PEG ratio of 8.23 and a beta of 0.76. The company has a current ratio of 4.66, a quick ratio of 4.66 and a debt-to-equity ratio of 0.10. Clearwater Analytics Holdings, Inc. has a 52 week low of $15.62 and a 52 week high of $35.71.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.04 EPS for the quarter, missing analysts' consensus estimates of $0.11 by ($0.07). The firm had revenue of $126.47 million for the quarter, compared to analysts' expectations of $120.34 million. Clearwater Analytics had a net margin of 93.97% and a return on equity of 7.11%. On average, analysts forecast that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CWAN. Morgan Stanley reiterated an "overweight" rating and set a $36.00 target price (up from $34.00) on shares of Clearwater Analytics in a report on Friday, February 21st. UBS Group raised their price objective on shares of Clearwater Analytics from $36.00 to $38.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Wells Fargo & Company dropped their target price on shares of Clearwater Analytics from $35.00 to $32.00 and set an "overweight" rating on the stock in a research note on Tuesday. Piper Sandler raised shares of Clearwater Analytics from a "neutral" rating to an "overweight" rating and raised their price target for the company from $28.00 to $36.00 in a research report on Thursday, February 20th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Clearwater Analytics in a report on Friday. They issued an "overweight" rating and a $28.00 price objective for the company. One research analyst has rated the stock with a sell rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Clearwater Analytics currently has an average rating of "Moderate Buy" and a consensus target price of $32.80.

About Clearwater Analytics

Clearwater Analytics Holdings, Inc develops and provides a Software-as-a-Service (SaaS) solution for automated investment data aggregation, reconciliation, accounting, and reporting services to insurers, investment managers, corporations, institutional investors, and government entities in the United States and internationally.